New Zealand: Building Consents Pick Up

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Thursday, July 31st, 2014
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New Zealand building consents have been issued at the fastest pace in three months, rising a seasonally adjusted 3.5 per cent in June, as apartment developments rebounded.

The number of consents rose to a seasonally adjusted 2,104 in June from 2,033 in May, according to Statistics New Zealand.

Excluding apartments, seasonally adjusted consents rose 2.9 per cent. Unadjusted residential consents rose 27 per cent to 1,950 in June from the same month a year earlier.

Building consent numbers have been on the rise, driven by the rebuilding of earthquake damaged Christchurch and a shortage of supply in Auckland.

Nine of the 16 regions recorded higher building consents in June than May with the largest increases recorded by Canterbury, Waikato and Auckland, the statistics department said.

The value of non-residential building consents rose 32 per cent to $490 million in June from May, the second-highest value on record behind $530m in April 2009, the statistics department said.

The figures aren’t inflation adjusted.

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